Posted by Michael Wonder on 12 Jun 2017
High costs, lack of affordability most common factors that lead consumers to cancel health insurance coverage
12 June 2017 - CMS issues two new reports on health insurance enrolment trends.
Today, CMS published two reports, the Effectuated Enrollment report and The Health Insurance Exchanges Trends report. These reports show that after selecting a plan on the Exchanges during open season which ended January 31, 2017, less than two months later nearly 2 million people had not paid their insurance premium to effectuate and maintain their health coverage. This number will be adjusted for individuals who effectuate their coverage in March 2017.
Exit survey data also contained in the reports indicate that cost is the top reason cited for ending their coverage. Taken together, these reports provide a better understanding of why consumers are leaving the Exchanges.
